Adya.ai Secures INR 10.5 Crore in Pre-Series A Funding for ONDC-Driven Innovation

Adya.ai Secures INR 10.5 Crore in Pre-Series A Funding for ONDC-Driven Innovation

In a recent development, Adya.ai, a prominent player in digital commerce and technology solutions, has successfully raised INR 10.5 crore in its pre-Series A funding round. The funding was led by key investors from the Indian Angel Network (IAN), including Uday Chatterjee, Romesh Sobti, Sri Prakash, and Hari Balasubramanian, along with additional support from undisclosed strategic investors.

Adya.ai, founded in May 2023 by Shayak Mazumdar, Archana Mazumdar, and Angad Singh Ahluwalia, specializes in providing SaaS-based solutions for data security and ransomware protection. The company utilizes cutting-edge technologies such as big data and machine learning to identify a company’s most sensitive data, prevent overexposure, and promptly alert management in case of potential theft or misuse.

The funding infusion will play a crucial role in advancing Adya.ai’s innovative solutions, expanding its market presence, and accelerating the development of AI technologies, as outlined in the company’s official press release. Notably, Adya.ai serves as a technology service partner for the Open Network for Digital Commerce (ONDC).

Adya.ai’s comprehensive solution extends to various sectors, including retail, mobility, F&B, logistics, credit, insurance, and finance. The company has already secured partnerships with major enterprises such as Canara Bank, Aditya Birla Financial Limited, Hindustan Unilever, and others. Its technology marketplace has facilitated over 10 large enterprise contracts, showcasing its impactful presence in key industries.

Uday Chatterjee, an angel investor and business leader, expressed optimism about Adya.ai’s positioning, stating, “ONDC is the next master protocol or digital public good which is likely to see explosive growth in the next few years. Adya.ai is ideally positioned to benefit from this growth and has already onboarded several public and private sector banks, fintechs, and large consumer goods companies as their clients.”

The latest funding round underscores Adya.ai’s commitment to contributing to India’s digital landscape, particularly within the transformative force of the ONDC. As the company continues to reshape the digital ecosystem, discussions around the balance between leadership control and shareholder influence are expected to gain prominence in light of the evolving corporate governance dynamics.

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